Funding you earn now, next payment 03:00 UTC+0.0270%/8h= +29.5% APRnext payment +$0.34 per $10,000 · paid last 24h −0.018%
Price spread now: Kraken Futures against Backpack+0.093%7-day average +0.037% · you sell dearer than you buy
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs−$52as in the Price arb table
costs, in and out, $10k−$580.580% of the position
Funding, last 7 days+0.065%+$6 on $10k
+Price spread, last 4 days (all we have)+0.334%+$33 · spread now +0.093%, 7d avg +0.037%
=Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Kraken Futures is 0.056% dearer against Backpack than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.037%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.065% in total (about 3.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.34 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack CRV_USDC_PERP | 0.3669 | 0.0100 | pay 0.0013% / 1h | 9m 41s | $100K | $296K | 10x |
| Short | Kraken Futures PF_CRVUSD | 0.3673 | 0.0370 | get 0.0046% / 1h | 9m 41s | $3.1M | $2.6M | 50x |
Backpack CRV_USDC_PERP
Kraken Futures PF_CRVUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $56.64
- Price spread: +0.093% → +0.037%
- $5.61
- Slippage, 4 orders
- −$37.99
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $4.26
- Costs to cover
- 0.580%
- Break-even
- 6.5 days
Slippage from Backpack: live order book, 54 min ago; Kraken Futures: live order book, 4 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Backpack live order book, 54 min ago | 0.14 bp | 12.2 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 4 min ago | 5.43 bp | 19.0 bp −$19 | 48.6 bp −$486 | doesn't fit | doesn't fit |
CRV on 30 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix CRV | −0.0065% | 1h | 0.3680 | +0.305% | $26K | $168K | 10x | as long as short |
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3669 | −0.009% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3660 | −0.261% | $38K | $7K | 10x | as long as short |
| Deribit CRV_USDC-PERPETUAL | 0.0000% | 1h | 0.3669 | −0.003% | $56K | $48K | 25x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | +0.025% | $79 | $384K | 12x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3658 | −0.303% | $384K | $709K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0097% | 8h | 0.3669 | −0.003% | $24K | $902 | 10x | as long as short |
| Hyperliquid CRV | +0.0100% | 1h | 0.3665 | −0.109% | $22.2M | $14.8M | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3666 | −0.080% | $131K | $180K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3660 | −0.260% | $371K | $198K | 10x | as long as short |
Phoenix CRV
Reya CRVRUSDPERP
dYdX CRV-USD
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Lighter CRV
Orderly PERP_CRV_USDC
Hyperliquid CRV
Aster CRVUSDT
Pacifica CRVShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CRVUSDT | +0.0100% | 8h | 0.3656 | −0.357% | $25.3M | $53.7M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3655 | −0.384% | $27.7M | $17.6M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3656 | −0.357% | $8.8M | $20.4M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3660 | −0.248% | $1.9M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3656 | −0.357% | $14.5M | $5.3M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3659 | −0.275% | $6.3M | $8.7M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3660 | −0.248% | $6.8M | $5.1M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3660 | −0.248% | — | $1.6M | — | as long as short |
| Backpack CRV_USDC_PERPlong | +0.0100% | 1h | 0.3669 | long leg | $100K | $296K | 10x | |
| Variational Omni CRV | +0.0100% | 8h | 0.3668 | −0.036% | $1.1M | $102K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3676 | +0.193% | $38K | $172K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3680 | +0.297% | $519K | $429K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3678 | +0.243% | $53K | $684K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3688 | +0.515% | $2K | $1.2M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3656 | −0.369% | $240K | $476K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3673 | +0.093% | $13K | $6K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3673 | +0.106% | $1.4M | $4.0M | 75x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0344% | 1h | 0.3675 | +0.161% | $383K | $4.1M | 50x | as long as short |
| Kraken Futures PF_CRVUSDshort | +0.0370% | 1h | 0.3673 | +0.093% | $3.1M | $2.6M | 50x | |
| GMX CRV/USD [ETH-USDC] | L +0.0420% / S −0.0178% | 1h | 0.3668 | −0.035% | $214K | — | 100x | as long as short |
Binance CRVUSDT
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
BloFin CRV-USDT
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]